Two Levy County census tracts have received the new Opportunity Zones designation after a federal act signed into law last year.
Tracts in Bronson and Williston were nominated by Florida Gov. Rick Scott before officially being certified by the US Department of Treasury. The designation comes after President of the United States Donald Trump signed the Tax Cuts and Jobs Act in 2017. The zones provide tax incentives for eligible businesses or investment within the zones, including a “temporary deferral on capital gains taxes, when investors reinvest those gains in qualified Opportunity Funds,” according to the Department of Economic Opportunity.